We hope you are all doing great; the last few weeks have been excellent for us. Being in one of the most important accelerators for medical devices (Stanford StartX Med) has helped us a lot by improving our strategies regarding IP, FDA, Reimbursement, QMS, etc. Now we have a better picture regarding how to navigate healthcare regulations; we appreciate all the help from our mentors, advisors, and investors like you; making it possible to getting us this far.
Also, we would like to share great news regarding the use of Circulating Tumor Cells (CTCs) in prostate cancer. Every few years, the most prominent physicians in the area gather to discuss the incorporation of new treatments and technologies into the clinical guidelines that doctors follow for the management of prostate cancer patients.
The most updated version of these clinical guidelines recommends the use of CTC testing, such as the one developed by our company Cytocatch® to identify patients who are likely to be resistant to androgen-directed therapies such as abiraterone acetate enzalutamide. This means that with the help of our test, physicians will be capable of making alternative treatment choices to which their patients will most likely respond, while avoiding toxic effects and costs associated with ineffective treatment, and significantly improving outcomes. At this moment, CMS Medicare is actively evaluating the addition of this test into their reimbursement process.
All these conditions give us an excellent market position as being one of the first companies to develop a fully automated solution with the capability to be deployed with minimal requirements in any clinic in the world.
Also, we are quite happy to announce that the product development is rapidly progressing, despite the current coronavirus outbreak, all the required components including plastic injection molds, CNC machined parts, optical assemblies are arriving at our facility to start assembling prototypes of commercial units.
Thank you very much for your generous support.
All the best,
Liza Velarde - CEO & Cofounder